MetLife Investment Management LLC Has $2.69 Million Stock Holdings in Semtech Co. (NASDAQ:SMTC)

MetLife Investment Management LLC lifted its position in shares of Semtech Co. (NASDAQ:SMTC) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,517 shares of the semiconductor company’s stock after purchasing an additional 6,107 shares during the period. MetLife Investment Management LLC’s holdings in Semtech were worth $2,692,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Semtech by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 11,542,545 shares of the semiconductor company’s stock worth $713,906,000 after buying an additional 1,326,226 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Semtech by 827.0% during the 4th quarter. Wellington Management Group LLP now owns 2,143,081 shares of the semiconductor company’s stock worth $132,550,000 after buying an additional 1,911,890 shares during the period. Geode Capital Management LLC boosted its holdings in Semtech by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,815,515 shares of the semiconductor company’s stock valued at $112,317,000 after purchasing an additional 197,732 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Semtech by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,061,871 shares of the semiconductor company’s stock valued at $65,677,000 after purchasing an additional 3,991 shares during the period. Finally, Portolan Capital Management LLC boosted its holdings in Semtech by 609.5% in the 4th quarter. Portolan Capital Management LLC now owns 667,211 shares of the semiconductor company’s stock valued at $41,267,000 after purchasing an additional 573,175 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SMTC shares. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Semtech in a report on Friday, March 14th. Morgan Stanley started coverage on shares of Semtech in a report on Monday, April 7th. They issued an “equal weight” rating and a $30.00 price objective for the company. Benchmark cut their price objective on shares of Semtech from $82.00 to $68.00 and set a “buy” rating for the company in a report on Friday, March 14th. Robert W. Baird cut their price objective on shares of Semtech from $80.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, UBS Group cut their price objective on shares of Semtech from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.33.

Insider Transactions at Semtech

In related news, CFO Mark Lin sold 10,890 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $34.68, for a total value of $377,665.20. Following the sale, the chief financial officer now owns 11,625 shares of the company’s stock, valued at $403,155. The trade was a 48.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 16,787 shares of company stock worth $665,044. Insiders own 0.60% of the company’s stock.

Semtech Price Performance

Shares of NASDAQ:SMTC opened at $30.03 on Monday. The firm has a 50 day simple moving average of $33.20 and a 200 day simple moving average of $48.71. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -2.30, a PEG ratio of 2.12 and a beta of 1.85. Semtech Co. has a one year low of $24.05 and a one year high of $79.52.

Semtech (NASDAQ:SMTC) last released its quarterly earnings data on Thursday, March 13th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.08. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $249.40 million. During the same period last year, the business earned ($0.06) EPS. The company’s revenue was up 30.1% compared to the same quarter last year. As a group, analysts expect that Semtech Co. will post -0.02 EPS for the current year.

About Semtech

Semtech Corporation designs, develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. It provides signal integrity products, including a portfolio of optical data communications and video transport products used in various infrastructure, and industrial applications; a portfolio of integrated circuits for data centers, enterprise networks, passive optical networks, wireless base station optical transceivers, and high-speed interface applications; and video products for broadcast applications, as well as video-over-IP technology for professional audio video applications.